India E-Cigarette Market is Projected to Augment at a Notable CAGR During the Forecast Period

India e-cigarette market is expected to reach $45.3 million by 2024, citing a CAGR of 26.4% during forecast period. Rising number of deaths due to traditional cigarette smoking as well increasing awareness toward the risk associated with toxins present in cigarettes is boosting the growth of market.

In Indian e-cigarette market, the western region is expected to present promising growth in the coming years. Youngsters opting for new innovative e-cigarettes, along with the advent of corporate culture of vaping, especially in cities such as Mumbai, Goa, Pune, and Ahmedabad, are leading to rising number of vape shops and tobacconists.

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Electronic nicotine delivery systems (ENDS), which comprise of e-cigarettes, currently lie under a legal grey area in India. The Indian government has been planning to ban e-cigarettes throughout the country for the last six years.

One of the major motivating factors for consumers to purchase e-cigarettes is cost, which is considered to be less expensive in the long-run, even though the initial cost is higher than the conventional tobacco cigarettes.

According to type, India e-Cigarette market is segmented into vaporizer, vape mod, cig-a-like, and T-Vapor. Of these, T-Vapor is further divided into heat-not-burn and infused. E-cigarette companies categorize T-Vapors under reduced-risk products (RRP). With fall in traditional cigarette smoking, RRP is projected to record large scale adoption across the country over the forecast period.

With rapid rise in the number of people addicted to smoking, e-cigarette is gaining value as an alternative to traditional tobacco cigarette. Tobacco companies are shifting from traditional tobacco products to next-generation vaping devices, owing to increasing health concerns among consumers.

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Some of the key players operating in the market are British American Tobacco p.l.c., Altria Group Inc., Japan Tobacco Inc., Imperial Brands PLC, Philip Morris International Inc., JUUL Labs Inc., Shenzhen iSmoka Electronics Co., Ltd., Shenzhen IVPS Technology Corporation Ltd., Innokin Technology Co. Ltd., Shenzhen Kanger Technology Co., Ltd., Pax Labs, Inc., and ITC Limited.

India E-Cigarette Market Segmentation

Market Segmentation by Product

• Cig-a-like
  • Disposable
  • Rechargeable
• Vaporizer
  • Open tank
  • Closed system
• Vape Mod
• T-Vapor
  • Heat-not-burn
  • Infused

Market Segmentation by Gender

• Male
• Female

Market Segmentation by Age-Group

• 16-24
• 25-34
• 35-44
• 45-54
• 55-65
• 65+